Enterprise Products Partners (NYSE:EPD) Price Target Raised to $40.00

Enterprise Products Partners (NYSE:EPD) had its price objective raised by Truist Financial from $37.00 to $40.00 in a research note released on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the oil and gas producer’s stock.

Several other equities analysts also recently issued reports on the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $31.83 on Friday. Enterprise Products Partners has a 1-year low of $26.12 and a 1-year high of $34.63. The firm has a market capitalization of $68.99 billion, a PE ratio of 11.92, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business’s fifty day moving average price is $31.40 and its two-hundred day moving average price is $29.96.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the business earned $0.60 EPS. The firm’s revenue was up 14.8% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners will post 2.69 EPS for the current year.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently made changes to their positions in the business. DiNuzzo Private Wealth Inc. lifted its stake in Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners in the 3rd quarter worth $36,000. Denver PWM LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth $48,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $49,000. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.